Exchange Traded Concepts LLC Purchases 1,903 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Exchange Traded Concepts LLC lifted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 4.8% during the 4th quarter, HoldingsChannel reports. The firm owned 41,725 shares of the basic materials company’s stock after acquiring an additional 1,903 shares during the period. Exchange Traded Concepts LLC’s holdings in Cal-Maine Foods were worth $4,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Cal-Maine Foods by 88.6% during the third quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock worth $25,457,000 after acquiring an additional 159,787 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Cal-Maine Foods by 652.6% in the 3rd quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock worth $11,997,000 after purchasing an additional 139,000 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter worth approximately $58,810,000. Hotchkis & Wiley Capital Management LLC increased its position in Cal-Maine Foods by 130.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company’s stock valued at $9,913,000 after buying an additional 75,090 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Cal-Maine Foods by 4.3% during the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock valued at $116,876,000 after buying an additional 64,489 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $106.70 on Friday. Cal-Maine Foods, Inc. has a 1-year low of $54.53 and a 1-year high of $116.41. The company’s fifty day simple moving average is $103.38 and its 200-day simple moving average is $85.95. The stock has a market capitalization of $5.23 billion, a PE ratio of 8.30 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. The company had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The firm’s revenue was up 82.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.45% of the stock is currently owned by corporate insiders.

Cal-Maine Foods Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.